Once you and your spouse have decided that divorce is the best option you will likely want to get things moving quickly. Even if you want to proceed as soon as possible it is important to first take a few hours to fully understand your finances. If you are not financially prepared you could get surprised with unsettled debts, lost documents, and unknown future expenses. Follow these seven steps to get a better understanding of your financial situation.
1. Know your credit score
One of the easiest ways to get a handle on your finances will be to check your credit score. It can indicate that you might be in good standing for getting a rental or if you have any unnoticed outstanding debts. If you have a good score then you will want to protect it throughout your divorce. You can establish separate spending accounts with your spouse which will help protect your credit.